Former Volkswagen boss Martin Winterkorn has agreed to pay around € 10 million in damages to the automaker over the diesel emissions scandal, Business Insider reported Monday. Volkswagen announced in March that it would seek damages from Winterkorn. Business Insider, citing a draft contract, said a deal could be signed this week between the automaker, Winterkorn and other former executives.
Volkswagen’s supervisory board is expected to discuss a deal over the weekend, two sources with knowledge of the matter told Reuters. An annual general meeting of shareholders in July is therefore expected to approve it. Volkswagen declined to comment. A spokesperson for Winterkorn did not answer the phone when he was called for comment.
The German company said in March that, following a far-reaching legal investigation, it concluded that Winterkorn had violated its duty of care. However, Winterkorn denied that he was responsible for the scandal. Volkswagen admitted in 2015 that it used illegal diesel engine testing software in the United States. The dieselgate scandal cost more than € 32 billion in fines, repairs and legal fees. Winterkorn resigned as chief executive on September 23, 2015, a week after the scandal.
